Tiffany & Co. is suing Costco for selling some engagement rings that the discount chain advertised as Tiffany-branded goods. The important thing to know about this story right off the bat is you can no longer buy Tiffany engagement rings at Costco; they're all gone now. Sorry. There is some question as to whether the rings were really from Tiffany, which claims to only sell its products directly from its own stores — the jewelry might have been from the gray market, where luxury goods that are sold through limited channels of distribution sometimes nonetheless end up — but Tiffany is alleging that Costco's advertisement of the rings in any case infringed on Tiffany's trademarks. It's also possible that the rings were counterfeit. [WWD]

"The cover? I don't think they used the best picture. I don't know how they ultimately determined that. Maybe they just wanted to show a lot of boob and I guess that's because of their target audience."

The latest CR Fashion Book includes a spread featuring dancers from the New York BalletCollective, and a monkey named Bentley. [The Cut]

There's a rumor that one of the world's biggest retailers — Fast Retailing, which owns Uniqlo, Theory, and J Brand — might acquire another: Gap Inc, which owns Gap, Banana Republic, and Old Navy. Neither company would comment on the reports. Fast Retailing has been in an acquisitive phase and it is seeking to expand its footprint in the U.S. [WWD]

Alexandra Shulman says that British Vogue's planned teen spin-off, Miss Vogue will be like American Teen Vogue but different!

"Teen Vogue has very American sensibilities — we'll be a little more eclectic and not so teen, maybe a little older than that. The idea is that it's the same kind of mix as the mother magazine, but targeted at a younger reader, with products more within their budget."

Longtime Vogue contributor André Leon Talley may be leaving the magazine to pursue opportunities in television — or not, depending on whom you believe. The New York Post reported this weekend that Talley and Vogue are ending their relationship so that Talley can host a talk show. But the magazine, where Talley is on the masthead as a "contributor," denies the report. Talley's spokesperson says he "is absolutely maintaining his relationship as a contributor to Vogue" and will also be taking a freelance position at Russian Numéro. [Fashionista]

Belgian designer Christian Wijnants has won this year's Woolmark prize for emerging fashion designers. Wijnants beat out Sophie Theallet from the U.S., Ban Xiao Xiu from China, Dion Lee from Australia, DressedUndressed from Japan, and Pankaj and Nidhi from India for the honor. [WWD]

And now, a moment with Vivienne Westwood. Vivienne, what should we do with our lives?

"You've got to invest in the world, you've got to read, you've got to go to art galleries, you've got to find out the names of plants. You've got to start to love the world and know about the whole genius of the human race. We're amazing people."